Engineering & Mining Journal

JAN 2014

Engineering and Mining Journal - Whether the market is copper, gold, nickel, iron ore, lead/zinc, PGM, diamonds or other commodities, E&MJ takes the lead in projecting trends, following development and reporting on the most efficient operating pr

Issue link: https://emj.epubxp.com/i/239773

Contents of this Issue

Navigation

Page 81 of 83

MARKETS Progress in Tin Production The Indonesia Tin Forum hosted by ITRI in Pankalpinang, Bangka, during December attracted more than 100 delegates to hear about and discuss issues currently facing the Indonesian tin sector, such as changing export regulations, and international market concern over environmental and social sustainability. Peter Kettle, manager of market studies at ITRI, set the scene by explaining the continuing importance of Indonesian tin production to the international market, as well as the current situation with the ICDX exchange, and this was supplemented by a presentation by Budi Prastowo, assistant head of the Bangka Belitung Provincial Bureau of Statistics (BPS), that provided information on the trends in the economic contributions of a variety of sectors in the province, including tin mining and smelting. From the downstream end of the tin supply chain, Carolyn Duran, materials EHS manager of Intel Inc., highlighted the growing requirements for transparency in supply chains of end product manufacturers. Duran also encouraged all smelters to become involved in the conflict-free smelter audit program before mid-2014. Participants were in general agreement that tin is an important resource that should be exploited for the maximum benefit of the people of Bangka Belitung and Indonesia, but that the current situation of limited transparency of source and control on production must be addressed. The importance of effective monitoring of traceability to mine source was frequently mentioned to link tin exports to particular concession areas and encourage mining companies to carry out the responsibilities defined by local laws. For a region that has been mining tin for more than 200 years, one key issue of concern appeared to be the limited extent of land reclamation observed at the moment, whether this was a result of repeated re-mining of the same areas, or to the lack of contributions to the cost of reclamation from unconventional small scale miners. The discussions brought forward several ideas in this regard including a suggestion that exporters should pay Rph 200,000 ($16.52) per metric ton into a new reclamation fund possibly organized through ITRI and the ICDX. CSM to Assist Malaysian Tin Miners The Camborne School of Mines (CSM) will play a pivotal role in an international collaboration aimed at reviving and stimulating the tin mining industry in Malaysia's second largest state. During December, the university signed a technical cooperation agreement with key representatives from the Malaysian state of Perak, at a special ceremony in Hertfordshire. Situated to the north of Kuala Lumpur, Perak was once renowned as one of the world's largest tin producers. This agreement will seek to boost the state's endeavors to develop a sustainable and cohesive mining industry within Perak. CSM Professor Kip Jeffrey said the agreement offered an important opportunity to apply and pass on new knowledge to the burgeoning Perak mining industry. "This exciting partnership will deliver considerable benefits to both the people and economy of Malaysia," Jeffrey said. "This is a great opportunity to apply the latest advances in development of sustainable mining technologies and practice to the tin industry and to pass them on the next generation of engineers and researchers, to create a sustainable industry and associated educational opportunities." Jeffrey was joined by Aminudin Hashim, CEO of Menteri Besar, one of the state's investment arms, and David Bishop, managing director of ITRI Ltd. The signing ceremony was also witnessed by the Rt. Hon. chief minister of Perak, Dr. Zambry Abdul Kadir, as part of his official visit to London. Speaking at the ceremony, Aminudin Hashim expressed that the state government is currently embarking on developing a comprehensive "Mining Blueprint." Formed under the Menteri Besar Incorporated Enactment 1951, Menteri Besar is a diversified mining, property and investment holding arm of the state of Perak in Malaysia, and empowered as the state government's strategic investor and interest holder in reemerging industries and markets. Its main objective is to promote sustainable economic growth and hold strategic interest for the state government thus eventually contributing toward the improved socio-economic well-being of the people of Perak. (January 2, 2014) Precious Metals ($/oz) Gold $1,223.00 Silver Platinum Palladium Rhodium Ruthenium $20.01 $1,409.00 $730.00 $1,025.00 $57.00 Base Metals ($/mt) Minor Metals ($/mt) Exchange Rates (U.S.$ Equivalent) Aluminum $1,755.50 Molybdenum $21,500 Euro (€) 1.3717 Copper $7,439.50 Cobalt $30,000 U.K. (£) 1.6529 Lead $2,212.00 Canada ($) 0.9401 Nickel $13,905.00 Australia ($) 0.8902 Tin $22,490.00 South Africa (Rand) 0.0946 Zinc $2,082.00 China (¥) 0.1639 Iron Ore ($/dmt) Fe CFR China $134.50 Gold and silver prices provided by KITCO Bullion dealers (http://www.kitco.com). Platinum group metals prices provided by Johnson Matthey (http://www.platinum.matthey.com). Non-ferrous base and minor metal prices provided by London Metal Exchange (http://www.lme.co.uk). Iron ore prices provided by Platts Iron Ore Index. Currency exchange rates were provided by the GoCurrency.com. 80 E&MJ; • JANUARY 2014 www.e-mj.com

Articles in this issue

Links on this page

Archives of this issue

view archives of Engineering & Mining Journal - JAN 2014